The NYT learned that the EU linked the ban on oil from Russia to the elections in France

EU member states are discussing a phased embargo on Russian oil,however, concrete proposals will only be made after the completion of the presidential elections in France

The European Union plans to introduce a phased embargo on Russian oil, but negotiations on this will begin no earlier than the end of the presidential election in France, writes The New York Times, citing sources. The second round of the French elections will take place on 24 April.

According to the interlocutors of the publication, the leaders of the EU member states want to be sure that the increase in fuel prices in France (in the event of an earlier embargo) will not play into the hands of presidential candidate Marine Le Pen and will not prevent current President Emmanuel Macron from being re-elected. Both candidates advanced to the second round of elections.

The embargo is supposed to be introduced according to the same scheme as with respect to Russian coal. Earlier, the EU introduced the fifth package of sanctions against RUSSIA, which, among other things, included a ban on the purchase, import or transit of coal and other solid fossil fuels from Russia. it will begin to operate in August, until that time the parties can fulfill contracts concluded before April 9.

Putin instructed to accelerate the reorientation of oil and gas exports Politics

A phase-out is also planned for oil, which will allow Germany, which is more dependent on Russian fuel than other European countries, to adapt to the new conditions. The schedule for phasing out Russian oil will be divided into types of oil products and delivery methods, writes NYT. In addition, a more rapid embargo on oil delivered by tankers (compared to pipeline oil) is being discussed.

It is now being discussed that the transit period will be at least one month, the newspaper adds.

According to her, EU members are gradually coming to the conclusion that a ban on the import of Russian oil should be introduced even in the absence of any "trigger".

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OPEC said that the EU will not be able to reimburse the supply of Russian oil Economics

The European Commission is now working on the details of the measures being prepared, but does not put them on paper, fearing information leakage, the newspaper writes. Its representatives will hold meetings with European diplomats during the Easter holidays, his sources specified.

Earlier on Thursday, President Vladimir Putin instructed to speed up work on building infrastructure in Russia to redirect oil and gas exports from the West to other markets. He clarified that we are talking about railway, pipeline, port projects. “Including the need to provide for the construction of new oil and gas pipelines from the fields of Western and Eastern Siberia,” the president added.